Supply and demand Essay Example | Topics and Well Written Essays - 750 words

Supply and demand - Essay Example Logically, this will ensure maintenance in the revenues. It is evident that elastic demand is dependent on sensitive buyers compared to inelastic demand all influencing shifts in the quantity of units consumed. Cross price elasticity of demand ensues when the unit prices of a certain good escalate thus forcing an increment on the demand for a different product (Anderson, 2006).CPEoD= (%Δ. Therefore, CPEoD affects demand of substitutes since an increment in the price of a product (x), leads to increment for the product Y’s price, its substitute. CPEoD influences complementary goods on the basis that an increment or decrement in the demand of one product equally affects the other since they are consumed together (Benassy, 2008). Substitute goods refer to products whose utility supplements the function of another product. For instance, one can substitute tea with coffee. Therefore, increase in tea price while the price of coffee is constant results to high demand of coffee (Anderson, 2006). On the other hand, complements are goods that are not necessary and therefore, increase in their price leads to low demand. For instance, dà ©cor and design, which enhances serene of a place, amount to complementary goods (Benassy, 2008). Income elasticity of products’ demand measures the relationship that exists between change in quantity of demand and income change. A rise of income leads to increase in demand of certain products or vice versa. Normal goods always bring a positive elasticity of demand therefore, as income rises, demand also increases (Anderson, 2006). On the other hand, inferior goods results in a negative income of elasticity of product demand. Demand decreases as income increases. The availability of substitute product is the most determinant of cost elasticity of demand. The more goods and services have better substitutes, the more the demand is elastic for those goods and services. For instance, an increment in coffee prices

American Society for the Prevention of Cruelty to Animals Essay

American Society for the Prevention of Cruelty to Animals - Essay Example At present, ASCPA is considered as one of the largest animal welfare organization in the world. The organization's top advocacy is the prevention of animal cruelty. It is a non-profit organization privately funded by its members and supporters worldwide. ASPCA spreads the advocacy for animal welfare through efforts of practicing animal care, and assisting the victims of animal cruelty. In line with its mission, ASPCA conducts activities, classes, and seminars that aim to build the relationship between animals and their handlers (American Society for the Prevention of Cruelty to Animals ASPCA, 2011). The ASPCA was able to influence the government to formulate anti-cruelty laws for animals and was given the authority to impose the said law (Schroeder, 2003). One upcoming activity offered by the organization is the "Team up for AAT," class. It will run from September 17th up to November 12th. The registration fee is $320 per person (American Society for the Prevention of Cruelty to Anim als, 2011). This break even analysis is presented to have an idea on the profitability of this of activity. All the amounts reflected in the analysis are only estimation except for the actual price of registration fee which is $320. The period covered for the amount of salaries and benefits is one month. If the enrollees of the class will reach to a hundred, the expected revenue will amount to $32,000. .